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BRIEF-DuPont Reports Qtrly Net Sales Of $4.83 Bln

Published 2020-07-30, 06:53 a/m
© Reuters.
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July 30 (Reuters) - DuPont (NYSE:DD) DD.N :

* QTRLY GAAP LOSS PER SHARE FROM CONTINUING OPERATIONS $3.37; QTRLY ADJUSTED. EARNINGS PER SHARE $0.70; QTRLY NET SALES $4.83 BILLION VERSUS $5.47 BILLION

* Q2 EARNINGS PER SHARE VIEW $0.59, REVENUE VIEW $4.70 BILLION -- REFINITIV IBES DATA

* SEES Q3 ADJUSTED EPS $0.71 - $0.73

* EXPECT Q3 SALES TO BE SLIGHTLY UP SEQUENTIALLY

* Q3 EARNINGS PER SHARE VIEW $0.71, REVENUE VIEW $5.02 BILLION -- REFINITIV IBES DATA

* ELECTRONICS & IMAGING REPORTED NET SALES OF $905 MILLION, UP 5% IN QUARTER

* AUTOMOTIVE INDUSTRY SLOWDOWN DUE TO COVID-19 RESULTED IN $2.5 BILLION NON CASH IMPAIRMENT CHARGE IN TRANSPORTATION & INDUSTRIAL SEGMENT IN Q2

* NUTRITION & BIOSCIENCES REPORTED NET SALES OF $1.5 BILLION, DOWN 1% IN QUARTER

* TRANSPORTATION & INDUSTRIAL REPORTED NET SALES OF $832 MILLION, DOWN 34% IN QUARTER

* IN Q3 SEES AUTOMOTIVE & RESIDENTIAL CONSTRUCTION IMPROVEMENT ALSO MOSTLY OFFSET BY IMPACT OF SUPPLY CONSTRAINTS ACROSS TYVEK ENTERPRISE VERSUS Q2

* IN Q3 SEES IMPROVEMENT IN AUTOMOTIVE & RESIDENTIAL CONSTRUCTION MOSTLY OFFSET BY SEASONAL PATTERNS IN NUTRITION & BIOSCIENCES VERSUS Q2

* SAFETY & CONSTRUCTION REPORTED NET SALES OF $1.2 BILLION, DOWN 7% IN QUARTER

* ON ORGANIC BASIS, QTRLY NET SALES WERE DOWN 10%

* Q2 ORGANIC SALES IN U.S. AND CANADA, EMEA, LATIN AMERICA EACH DECLINED MID-TO-HIGH TEENS PERCENT; Q2 ORGANIC SALES UP 1% IN ASIA PACIFIC

* DEMAND FOR TYVEK PROTECTIVE GARMENTS LEAD TO OVER 60% INCREASE IN GARMENT SALES IN QUARTER

* QTRLY SALES IN SAFETY SOLUTIONS BUSINESS DECLINED AS DEMAND WEAKENED ACROSS INDUSTRIAL, AEROSPACE, OIL & GAS MARKETS DUE TO COVID-19

* QTRLY TRANSPORTATION & INDUSTRIAL VOLUME DOWN 28% DUE TO LOWER AUTO BUILDS, AS GLOBAL AUTOMOTIVE PRODUCTION WAS DOWN ABOUT 45%

* SAW MID-SINGLE DIGIT GROWTH IN Q2 ACROSS 85% OF NUTRITION & BIOSCIENCES, DRIVEN BY STRENGTH IN FOOD & BEVERAGE, HEALTH & WELLNESS END MARKETS

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